E*Trade’s $60 Mil. Account Goes to BBDO

NEW YORK E*Trade Financial said it has tapped Omnicom Group’s BBDO to handle creative chores on its $60 million ad account.

The New York-based shop and its interactive arm, Atmosphere, had been given a fourth-quarter assignment in August after a review of undisclosed agencies [Adweek Online, Aug. 4].

E*Trade parted ways in July with Omnicom’s Martin/Williams in Minneapolis. That shop won the account in September 2003.

In a statement, E*Trade CMO Nick Utton said, “In 2005, E*Trade will demonstrate the power and value inherent in the integration of diverse financial solutions. BBDO’s strategic deployment of creative muscle has demonstrated their ability to help us take this message directly to both our retail and capital markets customer base.”

New creative work is expected to break this quarter.

“We are incredibly excited to be back in the financial services category,” said BBDO New York president and CEO John Osborn in a statement. “We’ve enjoyed building our relationship with E*Trade over the past several months and look forward to taking the brand to new heights. We couldn’t have asked for anything better.”

Media spending has fluctuated over the past four years. According to TNS Media Intelligence/CMR, E*Trade spent between $35-40 million in both 2001 and 2002. Ad spending dipped to $15 million in 2003, and from January through September 2004, E*Trade spent $20 million.